Canadian growth to be slightly weaker than expected: Flaherty

Jim Flaherty: Canada 2013 growth weaker than expected

OTTAWA — Jim Flaherty on Friday declined to name a date for the federal budget, but the finance minister said the government will be working from the premise of more moderate economic growth than previously thought.

“The consensus coming out of the meeting is that Canada will continue to see modest gross domestic product growth in 2013,” he told reporters after meeting in Ottawa with private-sector economists, who provided their latest estimates for economic growth.

“We will continue to see modest GDP growth in Canada. The growth projections are slightly lower in the near term . . . mainly in 2013-2014,” he said, although he did not provide detailed figures.

We will continue to see modest GDP growth in Canada. The growth projections are slightly lower in the near term

Forecasts by those economists who attended Friday’s news conference ranged from a low of 1.5% this year and a high of 2.5% in 2014.

“The factors involved there are the continuing issues [and] challenges in Europe and the United States.”